France: Industrial production contracts in December
February 24, 2014
In December, industrial production contracted a seasonally-adjusted 0.3% over the previous month. The rise contrasted both November's revised 1.2% expansion (previously reported: +1.3% month-on-month) and the 0.2% expansion the market had expected. According to the French Statistics Institute, the monthly fall was driven by contractions in manufacture of coke and refined petroleum products, as well as in manufacturing of transport equipment.
On an annual basis, industrial output decelerated from a 1.7% expansion in November (previously reported: +1.5% year-on-year) to a 0.5% expansion in December. In the full year 2013, industrial output contracted 0.4%, which was up from the 2.5% contraction seen in 2012.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.2% in 2014, which is unchanged from last month's forecast. For 2015, participants expect industrial output to expand 1.9%.